Minerva Neurosciences : Delisting/Failure to Satisfy Listing Rule/Transfer of Listing - Form 8-K
January 18, 2022 at 09:20 am EST
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8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 12, 2022
Minerva Neurosciences, Inc.
(Exact name of registrant as specified in its charter)
Delaware
001-36517
26-0784194
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
1601 TrapeloRoad
Suite 286
Waltham, MA
02451
(Address of principal executive offices)
(Zip Code)
(Registrant's telephone number, including area code): (617)600-7373
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange
on which registered
Common Stock, $0.0001 par value per share
NERV
The Nasdaq Global Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 3.01
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On January 12, 2022, Minerva Neurosciences, Inc. (the "Company") received a deficiency letter (the "Nasdaq Letter") from The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, for the last 30 consecutive business days, the closing bid price of the Company's shares of common stock, $0.0001 par value per share ("Common Stock"), has not been maintained at the minimum required closing bid price of at least $1.00 per share, as required for continued listing on the Nasdaq Global Market.
The Nasdaq Letter does not result in the immediate delisting of the Company's Common Stock, and the Company's Common Stock will continue to trade uninterrupted on the Nasdaq Global Market under the symbol "NERV."
In accordance with the listing rules of Nasdaq, the Company has been given 180 calendar days, or until July 11, 2022, to regain compliance with the minimum bid price requirement. If at any time before July 11, 2022, the closing bid price of the Company's Common Stock is at least $1.00 per share for a minimum of ten consecutive business days, Nasdaq will provide written notification to the Company that it complies with the minimum bid price requirement.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
MINERVA NEUROSCIENCES, INC.
By:
/s/ Geoffrey Race
Name:
Geoffrey Race
Title:
President
Date: January 18, 2022
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Minerva Neurosciences Inc. published this content on 18 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 January 2022 14:19:07 UTC.
Minerva Neurosciences, Inc. is a clinical-stage biopharmaceutical company, which focused on the development and commercialization of product candidates to treat patients suffering from central nervous system (CNS) diseases. It is engaged in developing roluperidone for the treatment of negative symptoms in patients with schizophrenia and have exclusive rights to develop and commercialize MIN-301 for the treatment of Parkinson's disease. It has also co-developed seltorexant for the treatment of insomnia disorder and adjunctive treatment of the major depressive disorder (MDD). Roluperidone is a compound that blocks serotonin, sigma, and a-adrenergic receptors that are involved in the regulation of mood, cognition, sleep, and anxiety. Roluperidone has been designed to block a specific subtype of serotonin receptor called 5-HT2A. MIN-301 is a soluble recombinant form of the Neuregulin-1b1 (NRG-1b1), protein, for the treatment of Parkinson's disease and for other neurodegenerative disorders.